Ultra Clean (NASDAQ:UCTT) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Ultra Clean (NASDAQ:UCTT) from a hold rating to a buy rating in a research note published on Wednesday, BidAskClub reports.

Several other research analysts also recently commented on the company. ValuEngine upgraded Ultra Clean from a strong sell rating to a sell rating in a research note on Monday, September 21st. Zacks Investment Research upgraded Ultra Clean from a hold rating to a strong-buy rating and set a $29.00 target price for the company in a research note on Friday, July 31st. Needham & Company LLC raised their target price on Ultra Clean from $26.00 to $35.00 and gave the stock a buy rating in a research note on Thursday, July 30th. Craig Hallum raised their target price on Ultra Clean from $35.00 to $40.00 and gave the stock a buy rating in a research note on Thursday, July 30th. Finally, Stifel Nicolaus upgraded Ultra Clean from a hold rating to a buy rating and set a $26.00 target price for the company in a research note on Sunday, September 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Ultra Clean has a consensus rating of Buy and an average target price of $31.67.

Shares of UCTT opened at $23.98 on Wednesday. The business has a 50-day moving average of $22.27 and a 200 day moving average of $21.55. Ultra Clean has a fifty-two week low of $11.79 and a fifty-two week high of $31.10. The firm has a market cap of $968.79 million, a P/E ratio of 47.96, a price-to-earnings-growth ratio of 1.12 and a beta of 1.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.64 and a current ratio of 2.49.

Ultra Clean (NASDAQ:UCTT) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.34. Ultra Clean had a return on equity of 14.79% and a net margin of 1.74%. The company had revenue of $344.70 million during the quarter, compared to analyst estimates of $265.90 million. During the same quarter last year, the firm posted $0.21 EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. As a group, research analysts predict that Ultra Clean will post 2.14 earnings per share for the current fiscal year.

In related news, CAO Chris Siu sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $30.66, for a total transaction of $61,320.00. Following the transaction, the chief accounting officer now directly owns 43,803 shares of the company’s stock, valued at approximately $1,342,999.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sheri Savage sold 26,785 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $30.05, for a total value of $804,889.25. Following the transaction, the chief financial officer now directly owns 117,459 shares in the company, valued at $3,529,642.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,153 shares of company stock worth $1,961,394. 2.20% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in UCTT. Parkside Financial Bank & Trust increased its stake in Ultra Clean by 1,153.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,141 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 1,050 shares during the period. Cullen Frost Bankers Inc. purchased a new position in Ultra Clean in the 2nd quarter worth approximately $45,000. Private Capital Group LLC purchased a new position in Ultra Clean in the 2nd quarter worth approximately $53,000. RMR Wealth Builders purchased a new position in Ultra Clean in the 2nd quarter worth approximately $54,000. Finally, PNC Financial Services Group Inc. increased its stake in Ultra Clean by 30.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,914 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 919 shares during the period. 84.11% of the stock is currently owned by institutional investors and hedge funds.

Ultra Clean Company Profile

Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries in the United States and internationally. The company provides subsystems, such as wafer cleaning modules; chemical delivery modules that deliver gases and reactive chemicals in a liquid or gaseous form from a centralized subsystem to the reaction chamber; frame assemblies, a support structures fabricated from steel tubing or folded sheet metal; process modules, a subsystems of semiconductor manufacturing tools that process integrated circuits onto wafers; and top-plate assemblies.

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Analyst Recommendations for Ultra Clean (NASDAQ:UCTT)

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